Wednesday, 08 September 2021 00:00

CORP BRIEF: TNB Genco, Microlink, UWC And NCT Alliance

TNB Genco develops hydropower plant in Kelantan

The wholly owned subsidiary of TENAGA Nasional Bhd (TNB), TNB Power Generation Sdn Bhd (TNB Genco), had received a notification letter from the Ministry of Energy and Natural Resources to develop a 300 megawatt hydropower plant in Kelantan. In a filing with Bursa Malaysia, TNB announced that the notification letter from TNB requires Genco to meet certain requirements prior to executing the project. According to government requirements, TNB Genco has established a wholly owned project company called TNBPG Hydro Nenggiri Sdn Bhd to carry out the project. Construction on the project is expected to take five years and the planned commercial operational date is June 1, 2027. – Bernama


Microlink intends to raise RM 58 million through private placement

MICROLINK Solutions Bhd is expected to generate gross proceeds of up to RM 58.22 million through a proposed private placement of up to 10% of the company’s total issued shares. The proceeds would be used for his working capital and future working capital. It added that the proposed private option allows the company to raise funds based on market conditions. The company will obtain the approval of the shareholders at the upcoming annual general meeting on September 29th. – Bernama

UWC posted a profit of RM 19 million in the fourth quarter of 21

UWC Bhd posted a net profit of 19.55 million RM in the fourth quarter of 2021 (4th quarter of 21), which ended on July 31, 2021, compared to 18.65 million RM in the same quarter of the previous year. Sales also rose to 63.94 million RM compared to 61.41 million RM in the previous year due to his involvement in the life science and medical technology sectors and the ongoing global demand from the semiconductor industry. In a filing with Bursa Malaysia, the company was optimistic about the coming quarters, driven by increasing inquiries from its existing and potential customers and the expected growth of the semiconductor market of 25.1% in 2021.

NCT Alliance posts net income of RM9.5 million for 2Q21

NCT Alliance Bhd (formerly known as Grand-Flo Bhd) posted net income of RM 9.5 million for the second quarter ended June 30, 2021 (Q2 21), compared with a deficit of RM 400,000 for the corresponding quarter of the previous year. This was achieved due to higher sales of RM49.2 million, which increased by 161% compared to RM18.9 million in the same quarter of the previous year. For the first half of the fiscal year, the group posted a higher net profit of RM 9.6 million, which already 70% of the net profit of 5.6 million improved revenues of RM64.7 million.

Source from Iketerumens (The Malaysian Reserve)

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